Hi Colin. There's a purpose-built tool to do just that, called 'Lucity View TV Observations', found in the Lucity GIS toolbar in ArcMap. This creates a temporary feature class from the CCTV observations, displaying them as small diamond shapes color-coded by defect type and sized by severity. Check page 48 in the "GIS Analyst Tools for ArcGIS Desktop" training guide: https://lucity.zendesk.com/hc/en-us/articles/203618274-GUIDE-GIS-Analyst-Tools-for-ArcGIS-Desktop
I don't believe this function is available outside of a local ArcGIS install. You're right about the spatial info... this tool plots observations by their distance along the line from a known endpoint, and I think you'd need to do the same if you were to work up your own solution to plot these.